2016-06-24 Fri

A sales-tax exemption on rare coins and precious-metals bullion was introduced through a law that was signed by the Ohio governor John Kasich on 14th June. Ohio would become the 34th state to have an exemption of this nature after the law is put into action from 1st January 2017. The Ohio Precious Metals Association (OPMA), has been working on this since 5th February, 2013.

On June 30th 2013, it was officially declared through a veto power message that a provision like this is not needed as the value of items like art, sports cards, or antiques might increase. The bill was again considered on 3rd February, 2015 by Rep. Ron Maag and Rep. Christina Hagan, which was supported by Industry Council for Tangible Assets. After certain judicial procedures, the bill was introduced on 27th May, 2015 to both the houses and it was passed on 8th June, 2016.

Considering the time and effort that was invested in a cause like this, the OPMA was very delighted by the results and was thankful to all those who stood by this initiative which was important to promote and preserve this hobby.